Discussion
I'm building a list of pre-foreclosure and probate-adjacent single-family files in one county, roughly 30 names, and I want a clear picture of the legal spend before I start makin…
Discussion
Two small houses, both owned in my own name, both with conventional loans on them. Attorney quoted $1,900 for the whole package: form the LLC, operating agreement, two deeds, plus…
Loss
Wrote this up because I was the guy in every thread saying I was still in analysis. I finally did something and it went badly. Seller had a 3.1% loan, $214k balance, on a 1,400 sq…
Discussion
The attorney's website says $350 an hour, then further down it says "flat fee packages from $750," and when I called about a boundary question on a lot I'm looking at, the paraleg…
Win
We manage 340 units across nine owners. Our management agreement was a form the previous owner of the company bought in 2016 and had never touched. Our lease was a state associati…
Discussion
18 acres, under contract with a due diligence extension I paid $8,000 for. Asked for a rezone to allow attached product at roughly 6 units an acre. Denied 4 to 3 after a hearing w…
Loss
Portfolio of five, four single family and one duplex, roughly $1.7m of value and $890k of debt across three lenders. I wanted them out of my personal name before I got licensed an…
Discussion
My coordination business touches maybe 14 non-financed entity purchases a year, and since the residential reporting rule came in every party at the table has decided it's someone…
From the desk:
A small real estate law firm near me needs someone to prep closing files. Two attorneys, one paralegal, they do somewhere around 40 closings a month, mostly residential purchases…
Discussion
I've been reading through the paperwork on a 30-unit single-asset raise a sponsor is putting together, mostly to understand who does what on a deal like that. Securities counsel c…
Win
I came from the building side so I thought my paperwork was fine. It wasn't. I was using a two page sub agreement I inherited from a GC I worked under, with no change order proced…
Discussion
I asked for a quote on a document package for my own use going forward: a purchase addendum, a lease with the state-specific disclosures for my market, and an assignment-of-rents…
Discussion
I'm buying rural land, mostly 10 to 80 acre parcels, with a mix of seller financing and purchase options. My deal count is going up and my legal line is going up faster. Quotes I…
Discussion
Duplex, seller's payoff is about $142,000 on a 3.25% note, asking $205,000, willing to carry the difference on a wrap so the underlying loan stays in place. I've been on the tools…
From the desk:
Bought 6 acres of rural land 14 months ago, planning to split it eventually. Ordered a boundary survey last month because I wanted the split lines drawn properly, and the surveyor…
Discussion
I've been reading closing documents for fun before I buy anything, and the same transaction seems to describe the same function three ways. The commitment comes from a title insur…
Discussion
A guy I did some framing work for years back is now wholesaling and he told me his attorney does his assignment paperwork for $500 flat, whatever the deal size. He made it sound l…
From the desk:
Under contract on a 4-unit, $620k, all cash from a private lender who is taking a first position but the loan closes after, so the purchase itself lands as a non-financed transfer…
Discussion
Eleven units, two states, and I've been running leases off a template pack I paid $199 for. A drafting tool now spits out addenda that read better than what I was writing myself,…
Discussion
Under contract on a small mixed use building, first purchase over $500k for me. Title commitment came back with fourteen exceptions on Schedule B and I understood maybe nine of th…